ANHEUSER-BUSCH, TIBIDABO COMPLETE JOINT VENTURE AGREEMENT
FOR BARCELONA THEME PARK AND RESORT
ST. LOUIS, April 1 /PRNewswire/ -- Anheuser-Busch Companies, Inc. (NYSE: BUD), and Tibidabo S.A. have completed a joint venture agreement to develop a theme park and resort complex near Barcelona, Spain. The necessary approvals and agreements have been received from the appropriate governmental authorities in Spain, and construction on the park is expected to begin later this year.
The theme park and resort complex will be located in the Tarragona Province of Spain in the municipalities of Vila-Seca and Salou, along the Mediterranean coast. The $300 million theme park will be the largest in southern Europe and is planned to open in l995. The resort will include a resort hotel, golf course, residential area and commercial area.
The project will be operated by a joint venture company, Grand Peninsula, S.A. that has been formed by Anheuser-Busch and Tibidabo. Anheuser-Busch is contributing its existing $73 million investment in land, engineering and design. Tibidabo is making a $114 million investment to acquire a majority interest in the joint venture and is arranging the external financing to complete the project.
Anheuser-Busch Companies, based in St. Louis, is a diversified corporation whose operations include brewing, baked goods, snack foods, family entertainment and beer-related interests such as aluminum can manufacturing, aluminum recycling, malt production and rice milling.
The family entertainment operations include nine theme parks located throughout the United States, including Sea World parks in Orlando, Fla., San Antonio, Texas, Aurora, Ohio, and San Diego, Calif.; Busch Gardens in Tampa, Fla., and Williamsburg, Va.; Adventure Island in Tampa; Cypress Gardens near Winter Haven, Fla.; and Sesame Place in Langhorne, Pa.
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/CONTACT: Randy Myers or Carter Dunkin, 314-982-1700, for Anheuser- Busch/
(BUD) CO: Anheuser-Busch Companies Inc.; Tibidabo S.A. ST: Missouri IN: LEI SU: JVN

TQ -- NY035 -- 3841 04/01/92 10:54 EST

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